Switzerland issues its first cryptocurrency license

Victoria SavchukOctober 10, 20180

The Swiss Financial Markets Authority (FINMA) has recently issued the first license on cryptocurrency managing for a cryptocurrency investment fund oriented on the Swiss net.

Crypto Fund, a subsidiary of Crypto Finance AG founded in 2017, is believed to be the recipient. According to the available data, the fund could distribute offshore cryptocurrency funds in compliance with FINMA’s regulations.

However, this new license will let the firm legally offer a wide range of collective investments’ products which track Bitcoin (BTC) and other cryptoassets, including inner funds.

The license also allows to offer investment services and consultations for institutional clients – in fact, giving the same freedom as for traditional Swiss asset managers.

Switzerland is broadly active when it comes to the regulation of a new crypto space. In February FINMA published detailed guiding principles for ICO, according to which many projects, “useful” tokens and assets in particular, have to be regulated by the AML laws.

Other important news from the Cryptocurrency world and Blockchain

We wrote earlier that Switzerland is going to help Belarus regulate cryptocurrency.

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Victoria Savchuk